$TOST Toast Inc Deep Dive and 2024 Outlook

Toast Inc. is a developer of point of sale and restaurant management software, providing a comprehensive suite of software as a service (SaaS) products, financial technology solutions, and restaurant-grade hardware. The company's key software platforms include a point of sale, online ordering system, kitchen display system, email marketing, order and pay, multi-location management, inventory management, and loyalty and gift cards. Toast also offers hardware solutions such as a POS system, ToastGo, POS terminals, Toast Guest-Facing display, self-service restaurant kiosk system, and kitchen display system.

Toast serves fine dining, casual dining, fast casual, bars and nightclubs, enterprises, cafes, and bakeries. The company is headquartered in Boston, Massachusetts, and has a significant presence in the US market, with approximately 62,000 US restaurants. Toast has received significant funding, including $400 million in a round of Series F funding in February 2020, valuing the company at $4.9 billion. Toast has filed 87 patents, with the three most popular patent topics being payment systems, banking technology, and payment service providers.

The company's all-in-one point-of-sale platform integrates online ordering, delivery, e-gift cards, marketing tools, simplifying systems, and empowering restaurants to increase revenue while saving time and money. Toast's platform is designed to meet the evolving needs of the restaurant industry, with a focus on fueling efficient location growth, increasing adoption of the full suite of products, investing in and expanding the product platform, further developing the partner ecosystem, and ensuring effective internal controls over financial reporting.